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Not all dividends are created equally; in fact, a high dividend yield is typically a sign of an unsafe stock. That’s why usually any dividend yield over 10% is a sign to run for the hills, instead of a sign to buy. That is of course when we are talking about dividends. On the other hand, when it comes to the distributions paid by an MLP, a 10% yield can be a great buy.

If you are not familiar with MLPs then I’d encourage you to read this. These entities are most commonly found in the energy industry and offer some of the best yields out there these days. So, without further ado, here are two high “dividend stocks” that are not only safe to own, but whose high yields have a good chance of growing even higher in the future.

1. QR Energy LP (NYSE:QRE)With a distribution of just over 11%, QR Energy is one of the highest-yielding dividend stocks out there today. The upstream oil and gas MLP is similar to more well-known high-yielding peers BreitBurn Energy Partners L.P. (NASDAQ:BBEP) and Linn Energy LLC (NASDAQ:LINE). The big difference here is that QR Energy LP (NYSE:QRE) has a management incentive structure that, to some degree, acts as a weight on the company’s units.

The company pays an exceptionally high yield that’s secured by one of the better hedging programs in its peer group. Given its higher current yield and longer duration hedging policy I see it as a bit of a safer bet than BreitBurn Energy Partners L.P. (NASDAQ:BBEP), which is only 80% hedged this year (though I like BreitBurn a lot). Further, while I might personally prefer Linn Energy LLC (NASDAQ:LINE) and its plan to be 100% hedged for the next four to six years, there are always trade-offs, and in this case the trade-off for QR Energy is a higher current yield.

QR Energy LP (NYSE:QRE) has acquired a very liquids-rich asset base (shown below) which will provide years of stable production leading to stable income. They key to growing its payout is to acquire similar low-decline, long-life assets. When you add it all up, QR Energy offers a safe payout of more than 10% that has the potential to go higher.

2. Hi-Crush Partners LP (NYSE:HCLP)
QR Energy and its upstream MLP peers are all indirect beneficiaries of the explosion in onshore oil and gas production. All three benefit from buying mature oil and gas assets from exploration and production companies that need to free up capital to tap our vast shale resources. Hi-Crush Partners LP (NYSE:HCLP) on the other hand is a more direct beneficiary of the shale boom as it provides frac sand which is used in as a proppant in these wells.